Silver Spring Networks Price Target Cut to $25.00 by Analysts at Stifel Nicolaus (SSNI)
Research analysts at Stifel Nicolaus reduced their target price on shares of Silver Spring Networks (NASDAQ:SSNI) from $30.00 to $25.00 in a report released on Friday, American Banking News reports. Stifel Nicolaus’ target price points to a potential upside of 6.38% from the company’s current price.
Shares of Silver Spring Networks (NASDAQ:SSNI) opened at 23.50 on Friday. Silver Spring Networks has a 52 week low of $14.63 and a 52 week high of $33.82. The stock has a 50-day moving average of $21.08 and a 200-day moving average of $21.02. The company’s market cap is $1.108 billion.
Silver Spring Networks (NASDAQ:SSNI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.13. The company had revenue of $94.20 million for the quarter, compared to the consensus estimate of $92.47 million. Silver Spring Networks’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Silver Spring Networks will post $0.14 EPS for the current fiscal year.
A number of other firms have also recently commented on SSNI. Analysts at Evercore Partners cut their price target on shares of Silver Spring Networks from $28.00 to $20.00 in a research note to investors on Friday. Separately, analysts at Canaccord Genuity cut their price target on shares of Silver Spring Networks from $25.00 to $20.00 in a research note to investors on Friday. Finally, analysts at Robert W. Baird cut their price target on shares of Silver Spring Networks from $32.00 to $17.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.50.
Silver Spring Networks, Inc, provides a networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid.
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